☰ Menu eFinancialCareers

Daily Dispatches: Job cuts boost Macquarie profits

Macquarie has beaten analyst forecasts with a 17% rise in full-year profits. The Australian bank has announced profits of $851 million, as it benefited from the global market recovery and cost cutting.

Expenses were down 10% compared with a year earlier, mainly because of an 8% fall in employment costs.

As we reported in January, Macquarie has been cutting staff from its equities business. Stockbroking arm Macquarie Securities continues to suffer – it made a loss of A$50 million, compared with $194 million a year earlier.

Daiwa bonuses (Bloomberg)
Daiwa pays its bonuses in June. It’s increased them by 83%. They’re only $11k per head on average.

Big bonds (Finance Asia)
Bankers expect Asian dollar bond issuance to exceed $100 billion again this year, but the pace is expected to slacken in the second half

Killer quarter (Asian Banking & Finance)
Here’s why DBS’ first quarter was mind-blowing for analysts.

Bad readers (WSJ)
Job applicants aren’t very good at reading job adverts.

Top profiles (Asia One)
The 43 most viewed profiles on LinkedIn Singapore

Suffering bankers (Guardian)
If you’re an MBA who goes to work in an investment bank, your salary is not worth the suffering.

Comments (0)


The comment is under moderation. It will appear shortly.


Screen Name


Consult our community guidelines here